Signature Living has agreed a deal to buy the Cavern Walks shopping centre to convert the largely-vacant retail precinct into a hotel and events space.
The building between Matthew Street and Harrington Street will be Signature’s 20th property in Liverpool once a deal with current owners Adhan Group completes.
Featuring 23 shops, 80,000 sq ft of offices and the Cavern Club, the building sold for £4.1m in October 2013 after its previous owner, Warner Estate Holdings, entered administration. Signature Living’s purchase price of Cavern Walks is undisclosed.
Adhan made a bid to revive the shopping centre’s fortunes after purchasing the site but it now has only 10 shops occupied; these include Boudoir Boutique, Vivienne Westwood, Cricket, and Weavers Door.
Signature already operates the Shankly Hotel and a site at 30 James Street, and its projects include another Shankly-branded hotel in Preston, which is set to open next year.
Delighted to announced that @SignatureLiving has bought Cavern Walks
Cavern Walks has a special place in Liverpool’s heart & I can’t wait to see thrive once again while also creating jobs & driving footfall into a part of the city centre in need of regenhttps://t.co/EuOXwzsh9p
— Lawrence Kenwright (@LawKenwright) November 26, 2018